Topic: Governments will collaboratively create their own crypto-currency in 10 years - page 2. (Read 6385 times)

I think it is obvious that they will, but what type of crypto-currency will they choose? Will they work together (like a new Eurozone?) or try to compete with the international recognition that Bitcoin is getting by working with as many central banks as possible?

Whatever happens, traditional currency (fiat) will die, the only question is when.

if it does, the greedy banksters tx fees will still be so high that everyone will use a cheaper alternative.

Certainly feasible.

Oh Canada might be leading the pack, hats off to that.

http://business.financialpost.com/2013/09/19/canadian-mint-pushes-ahead-in-murky-world-of-crypto-currency-with-mintchip-project/

I believe the banking cartels that set American policy, namely Goldman Sachs, will see what they have to lose and fight crypto's though.  But other smaller countries, more progressive places....Sweden, Germany, Iceland, etc, will get on board.

Anyone who just studies economics for more than 2 hours (I believe) would realize that our current world finance system is really messed up, has lost a link to reality due to fiat currencies being leveraged one-dollar-to-a-hundred to by banks, and currency that has a backing, whether it is gold or enforced digital scarcity via something like Bitcoin's design, is just a more logical, superior way to hold value somewhere as opposed to money you printing up by the spare 100 billion that gets given to the banking cartels on the regular to keep running.

Or current financial system just does not add up. You needn't look any further than many of the world's supposedly richest nations looking at going bankrupt if they weren't able to print up money from thin air. Once we get hyper-inflation the house of cards will fall (or sooner).  Not to mention in 20 years our average work week should be like 15 hours a week, not 40, and most jobs will be more economically done by robots and computers, not people, and we'll see some serious problems why some humans make salaries more than a 1000x times other humans' salaries.

Governments will not accept to see their currency lose value, but they will also realize that they can't ban bitcoin. For them, there is only one option:

Central banks from large countries (China, USA, etc..) will work together to create a proof of stake crypto-currency (similar to PPC). Bitcoin will probably survive this, but it will prevent it from reaching valuations such as 1M$.

So when do you think this will happen, and if not, why not?